Corker Statement on Reports of FHA Bailout

Senator Bob Corker

WASHINGTON – U.S. Senator Bob Corker, R-Tenn., a member of the Senate Banking Committee, released the following statement responding to reports that the FHA will need a taxpayer-funded bailout from the U.S. Treasury to remain solvent.

“No reasonable person could believe that we should continue along with the current housing finance system in this country when three separate entities – Fannie, Freddie, and, according to reports, now the FHA – have all had to come to the taxpayer for billions of dollars in bailout funds,” said Corker.

In July, Corker commended the Senate Banking Committee for approving the bipartisan FHA Solvency Act of 2013, saying, “I applaud Chairman Johnson and Ranking Member Crapo for passing a bill that puts in place necessary tools and resources to get the FHA on better footing, and I am glad they have committed to building on this momentum and quickly moving a structural and bipartisan housing finance reform bill.”

In June, Corker and Senator Mark Warner, D-VA., introduced S. 1217, the Housing Reform and Taxpayer Protection Act of 2013, which would strengthen America’s housing finance system by replacing government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac with a modernized system that preserves market liquidity and protects taxpayers from future economic downturns.

Cosponsors of S. 1217 include Mike Johanns, R-Neb., Jon Tester, D-Mont., Dean Heller, R-Nev., Heidi Heitkamp, D-N.D., Jerry Moran, R-Kan., Kay Hagan, D-N.C., Mark Kirk, R-Ill., Joe Manchin, D-W.V., and Saxby Chambliss, R-Ga.

Read more here: http://bit.ly/CorkerWarner

About Brad Jones

Brad is the Owner/Operator of BBB TV 12, and has been with the company since August of 1996. Brad is a 1987 graduate of Coalfield High School and a 1995 graduate of the University of Tennessee College of Communications. He won the 1995 broadcast production student of the year award. Brad worked at Shop at Home, Inc. a home shopping network that was located in Knoxville, TN from 1993 - 1995 and then at Via TV (RSTV, Inc.) from 1995 - 1996. After some freelance work in Nashville, Brad joined the BBB Communications staff in August of 1996. A short stint at WVLT TV as a news photographer was in 2001, but he continued to work at BBB TV as well. Brad is married to Nicole Jenkins Jones, a 1990 graduate of Oak Ridge High School, who works at Oak Ridge Gastroenterology and Associates in Oak Ridge. They have 3 kids, Trevor Bogard, 27, Chandler 22, and Naomi 13. On December 12, 2013 they welcomed their first grandchild, Carter Ryan Bogard. Brad is also the assistant boys basketball coach at Coalfield High School for the past 11 years. In 2013-14 the Yellow Jackets won their first district title since 1991 and just the 4th in school history.

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